Pundits who see fintechs as the epitome of digital revolution need to pause and consider a simple fact, they may well be transitory and more dramatic changes are yet to come

Asia Pacific banks saw asset growth slow down to 7.9% in FY2021 from 10.7% in FY2020, while 85% of banks posted higher net profit, reflecting economic recovery from the COVID-19 pandemic

Despite economic headwinds, banks leveraged advanced technologies and a customer-centric approaches to drive balanced growth, with customer engagement, financial inclusion, and ecosystem development emerging as key strategies

In 2023, China’s domestic systemically important banks grew to 20, led by China Merchants Bank in the TAB Global 1000 World’s Strongest Banks 2023 ranking, but some still require more capital despite improved capital ratios